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Cryptocurrencies

The following is lesson #2 in my free Introductory to Cryptocurrency Course, if you would like the full course you can grab it by clicking here. In today’s lesson we are going to diving into bitcoin a little bit further and look at the history of bitcoin as well.

Alright, everybody, so in this lesson, we’re going to talk more about Bitcoin.

Again, Bitcoin is the main thing to understand here. It’s the most popular type of coin that’s traded online. It’s also worth the most. We also use Bitcoin to trade other coins, when we work more with the buying and selling process.

I’ll explain that a little bit better for you guys and you’ll kind of know how that works, but for now, I’m just on Google here. I did a quick search for Bitcoin because this is a really good definition of it here. Again, this can be a little bit confusing, but here is what a Bitcoin is – A Bitcoin is a type of digital currency with encryption techniques that are used to regulate the generation of units of currency and verify a transfer of funds operating independently of a central bank.

Basically what that means is that Bitcoin is a type of online technology that can be used to trade, transfer money, and it’s safer, more secure, and you don’t need a bank to do it. That’s kind of why it’s so popular.

Again, I’m going to leave some reference material that gos more in depth about Bitcoins, how Bitcoins are made, in the external files for this lesson if you want to check them out, but you don’t have to know that kind of stuff. That’s just kind of there if you want it. I don’t even know a heck of a lot about Bitcoin. I’ve only been trading these coins for about six months now. I’m still pretty new to the whole process, but again, you don’t need to be an expert to get started.

Anybody can start it, it’s just like any kind of investment. You just got to know how to basically do it.

If we go back to Coin Market Cap, we’re going to look at Bitcoin here. I’m just going to show you guys the history of Bitcoin and why online coins and Bitcoins are so promising.

If we go back to May of 2013, you’ll see that this is where this graph starts. It goes all the way until, which I’m guessing is today, which is July 18th at the time of filming this lesson. We can see here how much the price of Bitcoin has gone up. Anybody who invested in Bitcoin in 2013, obviously if they still had any Bitcoin, is a millionaire because it’s worth so much now.

Back when we started, you can see the price was about $100 per Bitcoin. If you bought 10 Bitcoins for $100 back in 2013 and you sold them for $1,000 each, you’d make $10,000 off a $1,000 investment. Obviously, there’s no way of knowing that would happen. Nobody could have guessed this really would have happened because we didn’t have any kind of reference or any kind of evidence that would say that Bitcoins would get so popular.

You can see ever since then it’s gone up, It’s gone down. It goes up, It goes down. Then you can see just recently in the past starting about 2015 or so, it’s really started to go up. You can see like it’s just booming right now. It’s at the top that it’s been in 2017, which was May. It was priced at $2,000. Again, you can see it’s super popular right now, It’s still going up.

A lot of mainstream companies are adapting the technology. Even some countries are starting to actually accept payments in Bitcoin, which is pretty cool.

The cool thing about Bitcoin is it’s still relatively unknown. I think they did a survey and about 90% of the population still doesn’t know what a Bitcoin is. That just proves that something that has such a high value and isn’t even close to becoming mainstream or becoming known has potential and it’s getting more known as time goes on.

We can see here right now that, it’s July right now, you can see that it’s gone down a little bit.

I’m going to see if I can bring this graph to be, let’s go 2016. We can see here that it’s gone up, It went down a lot and it’s kind of going back up a bit. You might question like if it’s kind of reached its cap here and it’s going down, why do we want to invest in Bitcoin and why should we invest?

In fact, a lot of people are selling right now because they’re scared that it’s going to go down. I’m here to tell you that when things go down, it’s the perfect opportunity to buy because they will go up.

We’re going to kind of explain that strategy as time goes on throughout this course of how you can make money buying Bitcoins when they’re low in value and sell them when they go high.

We can see here that it just goes up and down. That’s what the data says, so if something goes down, it’s going to go up eventually. We’ll talk more about that later, but for now, I just kind of want to take you guys through the process of Bitcoin and kind of just get you it in your head how much you can actually earn if you buy it. If you’ve bought it, even just a couple months ago when it was priced at $1,000 and you sold some now or you just held onto it, you’d get such a big return of investment because now it’s like $2,700 right here.

That’s only a short period of time. That’s just a few months ago. It goes up and down quite a bit. That’s what we’re going to talk about in this course and how you can make money from that.

Anyways, I just wanted to introduce you guys to Bitcoin. I wanted to kind of show you the trends and why this is such an exciting thing to get into.

Just for reference, we’re going to go back here and we’re going to take a look at the number two coin, which is Ethereum. I think I’m saying that right. I don’t even know how to say it correctly. I’ve heard a few people say it different. But you can see here, this one’s a little bit more confusing.

We can see here that this one has gone up and down a lot. Just in March 2017, this was worth $30 American. You can see here that now, even today, it’s worth $260. Anybody who invested even when it was going up a little bit, if they would have sold it even up around here, sold some of it, they would have made tons of money. You can see, it’s gone down now, but it’s a perfect opportunity that whenever something goes down to buy.

Again, we’re going to talk about that later on.

I just want to introduce you guys to Bitcoin, kind of show you how this whole process is going to work. In the next section of the course, we’re going to talk more about investing and things like that.

We’re going to actually talk about short term investing and long term investing first and talk about the benefits of both and which one I ultimately recommend.

Alright, so I know this is a lot to take in, guys, but just take it in slow.

Read the reference material I’ve left for you guys. When you’re ready, we’ll move on further with the course.
Reference:

Hey everyone, I’m currently in the process of building a course that shows beginners how to get started with bitcoin and investing in Cryptocurrencies. I’m still pretty new to this whole thing myself but bare with me as I learn how to do it along with you.

Over the next few days I’m going to be taking my free cryptocurrency investing course and turning into posts here on my blog.

If anyone is interested you can enroll in the free course by clicking the link below:

Alright let’s get started with the first lesson, in today’s lesson we are going to very briefly talk about Cryptocurrencies. You can watch the video version of this lesson below:

All right, everybody.

Welcome to the very first lecture of this course. In this lecture, we’re going to talk a little bit about cryptocurrencies.

Now, one thing to understand is that if you’re brand new to this whole world of cryptocurrencies, and bitcoin, and all that kind of stuff, it’s going to be a little bit confusing at first and I’m going to try to dumb things down and just make things as easy as possible to understand.

The cool thing about cryptocurrencies is you don’t have to really understand how they work to get started with investing in them.

It’s like the stock market. You don’t really have to know the specifics about the little things, but it is helpful to have a basic understanding.

I’m going to talk about that a little bit in this lesson.

On this page here, I’m on coinmarketcap.com, and you can write this website down if you want.

This is a cryptocurrency market kind of … They just keep track of the market.

You see here that there’s all these different cryptocurrencies and these are called AltCoins. You’ll see that there’s a lot of different kinds.

Now, again, like I said before, this is a little bit confusing. It can be a little bit overwhelming to understand at first. You know what? Right now all I ask you to do is just keep in mind that these are all different types of online digital currencies that you can trade online.

At the very top, we have bitcoin and bitcoin is the main one. It’s the one that gets traded the most. It’s the one that represents everything here.

It’s like the USD or American dollar of online … When people buy stuff online, they always use for the most part, most people use USD. It’s the main trading currency online. Bitcoin is like the main trading currency of all these different little Alt Coins we have here.

Again, you don’t have to keep track of them. You’re not going to know what any of these things are. In fact, I don’t even know what most of these things do. All I know is the name and you can see here how much they’re worth. Again, this is how much they’re worth in American dollars. You can change them to your currency if you want. I’m Canadian. I can click here and I can see all the different prices as I’m Canadian.

What I’m going to do in this video is I’m going to leave a reference, a little reference material that you guys can check out like some webpages and stuff that explain cryptocurrencies a little bit better, but I’m not going to go into too much detail because I don’t want to confuse you guys.

I don’t want to throw you off or make this whole thing seem so complicated because it’s really not. Investing in cryptocurrencies, it’s really simple. It’s really easy and, in this video, like I said, I’m just giving you guys an introductory to all the different currencies we have here and there’s a lot of different ones.

The main one to keep in mind is bitcoin. Bitcoin is going to be the main one. You can see here that it’s by far worth the most. I’m just going to switch this back to American dollar.

You can see that bitcoin is worth one bitcoin, that’s one bitcoin is worth $2,332 American. That’s insane. I look at all these other ones. They don’t even come close to it. Bitcoin is the main one you want to understand. Again, these are all the different types of cryptocurrencies that there are on the internet.

You can see there’s quite a bit. It goes all the way down to 100. Actually, there’s even more than 100. It just keeps going. You know what? Don’t worry about that. Don’t worry about any of this. In this course, I’m going to show you guys how you can invest smartly and how you can slowly make a profit off all these different coins.

Again, I just want to give you guys an introductory.

If you guys want to go ahead and read more about cryptocurrencies and stuff like that, there’s a few links in the external links section for this video, you can grab those links there.

That’s just a quick little introductory for cryptocurrencies.

In the next lesson, we’re actually going to talk more about bitcoins and how bitcoins work. Again, just a quick introductory here, for you guys. Check this page out. You can just look at some of this stuff if you want and check out the further reading, reference materials that I left for you guys if you want to learn more about cryptocurrencies.